Ofgem has announced a proposal to change compensation rules which could see customers get more money if they are impacted by issues when switching energy suppliers.

Under this new proposal, the amount someone would get if they have not been switched to their desired new supplier within five days would be raised from £30 to £40.

The energy regulator published a consultation which outlined plans to raise compensation payments firms must pay if they fail to meet the Guaranteed Standards of Performance (GSoP).

Energy suppliers are legally required to pay customers £30 if they do not meet the minimum standards outlined in the regulations.

These standards include making and keeping appointments, investigating and fixing credit or prepayment meter faults, and facilitating switching between suppliers within five working days.

According to Ofgem, a £10 increase would bring the GSoP in line with inflation since it was originally set in 2015.

Ofgem has announced potential changes to compensation rules which could benefit customers